This Amendment No. 10 to Schedule 13D is filed to report the following changes to
the information previously disclosed in Amendment No. 9 to Schedule 13D filed by Mr. Decherd on December 13, 2019. Except as amended and supplemented by this Amendment No. 10, all previous items on the Schedule 13D remain
unchanged.
Item 3. Source and Amount of Funds or Other Consideration.
Item 3 is amended and supplemented to add the following information:
This Statement reflects the acquisition of 125,844 shares of Series B Common Stock by the Reporting Person from Molly Moroney in a
privately-negotiated transaction at a price of $5.00 per share on February 18, 2020. The source of funds for such transactions was the Reporting Persons personal funds.
Item 4. Purpose of Transaction.
Item 4 is amended and supplemented to add the following information:
The Reporting Person acquired the additional 125,844 shares of the Issuers Series B Common Stock reported herein in a
privately-negotiated transaction because he believes the acquisition represents an attractive investment opportunity at the prices paid.
The Reporting Person intends to review his investment in the Issuer on a continuing basis and may, at any time, consistent with the Reporting
Persons obligations under the federal securities laws, determine to increase or decrease his ownership of shares of the Issuers Series A and B Common Stock through purchases or sales in the open market or in privately-negotiated
transactions. The Reporting Persons review of his investment in the Issuer will depend on various factors, including the Issuers business prospects, other developments concerning the Issuer, general economic conditions, financial and
stock market conditions, the Reporting Persons personal financial situation, need for, and availability of capital, and any other facts and circumstances which may become known to the Reporting Person regarding his investment in the Issuer. At
the time of filing this Amendment No. 10 to Schedule 13D, the Reporting Person has no plans to purchase additional shares of common stock in the open market in the immediate future. However, the Reporting Person may engage in
privately-negotiated transactions in the future, may from time-to-time acquire additional shares of common stock under various benefit and compensation arrangements of
the Issuer, and reserves his right to reevaluate his investment in the Issuer and to purchase additional shares in the open market or otherwise.
Except as may occur in the ordinary course of business of the Issuer, the Reporting Person has no present plans or proposals that relate to or
would result in (i) an extraordinary corporate transaction, such as a merger, reorganization, or liquidation, involving the Issuer or any of its subsidiaries, (ii) a sale or transfer of a material amount of assets of the Issuer or any of
its subsidiaries, (iii) any change in the board of directors or executive management of the Issuer or any of its subsidiaries, (iv) any material change in the present capitalization or dividend policy of the Issuer, (v) any other
material change in the Issuers business or corporate structure, (vi) changes in the Issuers Certificate of Formation or bylaws or other actions that may impede the acquisition of control of the Issuer by any person, (vii) a
series of securities of the Issuer being delisted from a national securities exchange or no longer being quoted in an inter-dealer quotation system of a registered national securities association, (viii) a series of equity securities of the
Issuer becoming eligible for termination of registration pursuant to Section 12(g)(4) of the Securities Exchange Act of 1934, or (ix) any action similar to any of those described above. However, the Reporting Person, in his capacity as
Chairman of the Board, President, and Chief Executive Officer may, from time to time, become aware of, initiate, and/or be involved in discussions that relate to the transactions described in this Item 4 and thus retains his right to modify his
plans with respect to the transactions described in this Item 4 to acquire or dispose of securities of the Issuer and to formulate plans and proposals that could result in the occurrence of any such events, subject to applicable laws and
regulations.
Item 5. Interest in Securities of the Issuer.
Item 5 is amended and supplemented to add the following information:
(a) As of the date of filing of this Statement, Mr. Decherd beneficially owns 2,262,430 shares of Series B Common Stock, representing
approximately 91.6% of the Series B Common Stock based on the number of shares outstanding as of December 31, 2019. This includes (i) 1,957,508 shares held by Mr. Decherd directly, (ii) 300,291 shares held by the Foundation and (iii) 4,631
shares owned jointly by Mr. Decherd and his spouse. This number does not include 240 shares owned by Mr. Decherds spouse, as to which shares Mr. Decherd disclaims beneficial ownership.
(b) As of the date of filing of this Statement, Mr. Decherd has (i) the sole power to vote and sole dispositive power over 2,257,799
shares of the Series B Common Stock (including 300,291 shares held by the Foundation) and (ii) the shared power to vote and shared dispositive power over 4,631 shares of the Series B Common Stock held jointly by him and his spouse.
(c) Except as disclosed in Item 3, Mr. Decherd has not effected any transaction involving shares of the Series B Common Stock of the
Issuer during the past 60 days.